
Giancarlo opens door for prop firms to quote swaps
CFTC will grant no-action relief to non-banks that want to provide liquidity in cleared swaps
The chairman of the Commodity Futures Trading Commission is clearing a path for proprietary trading firms seeking to act as market-makers in swaps – a business they have been essentially shut out of by the agency’s circuitous rules.
Christopher Giancarlo opened a door to prop firms, many of which are high-frequency trading firms, in a speech at DerivCon on Wednesday (February 27), taking direct aim at the ‘floor trader exemption rule’, which critics argue has long stopped non-banks from getting
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
7 days in 60 seconds
Forex code cold shouldered; Volcker fires up FRTB; Tradeweb trends
The week on Risk.net, November 30–December 6, 2019
Receive this by email